IMO, this CR has the hallmark of a cheap buyout (thank you retail investors etc.) because (a) The board is at least half Chinese (b) When there was a prospect of SP rising, Li 1 buyout & cap raise happened knocking down the SP (c) Now the GXY is on brink of being cashflow positive, another CR taking 2 x Chinese investors, ( one 19.8% and another 19.3%) close to the bid threshold. Had they bought this share of the company on the open market, it would have driven the SP close to $2 IMO.
Should a takeover bid arrive under $1.20, I would be very concerned and I would likely express that concern to ASIC, the FIRB and the Treasurer.
With kind regards Moorookamick
GXY Price at posting:
16.8¢ Sentiment: Buy Disclosure: Held